Market Overview:
The global ferrovanadium alloy market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for vanadium alloys in various end-use industries, such as construction, automotive and transportation, oil and gas, aerospace, and others. Ferrovanadium alloy is a type of steel that contains vanadium in order to improve its properties. It offers high strength-to-weight ratio and resistance against wear and tear. These factors are driving the demand for ferrovanadium alloy in various end-use industries across the globe. Based on type, the global ferrovanadium alloy market can be segmented into vanadium content: 35%-48%, vanadium content: 48%-60%, and vanadium content: 70%-85%.
Product Definition:
Ferrovanadium alloy is a type of ferroalloy that contains vanadium and iron. It is used as an additive in steelmaking to improve the properties of the steel, such as strength and toughness.
Vanadium content: 35%-48%:
Vanadium content: 35%-48%, it's usage.
The global vanadium content: 35%-48%, it's usage and growth factor in ferrovanadium alloy market size was valued at USD 985.0 million in 2015. The increasing demand for the product from various end-use industries such as construction, automotive, consumer goods, energy & power is expected to drive the industry over the forecast period.
Vanadium content: 48%-60%:
Vanadium content in ferrovanadium alloys is 48%-60%,.
It can be used for the production of stainless steel, cast irons, machine tools parts, electric motors (brushes), automotive components (ignition systems), chemical industry products such as neutralizers and emulsifiers. It has a high demand from the steel industry because it helps to reduce carbonation during iron extraction.
Application Insights:
The construction application segment led the global ferrovanadium market in 2017 and is projected to witness significant growth over the forecast period. The product is widely used in cold-flow switches, expansion joints, manhole covers, tunnels, bridges and other structures. It also finds applications as a replacement for lead in gasoline pipes and water service lines.
The automotive & transportation application segment accounted for 15% of the global demand in 2017. Ferrovanadium products are widely used as an alternative to vanadium pentoxide (VO2) on account of its lower cost structure compared to VO2 which makes it suitable solution for automotive fuel additives market globally.
Increasing use of V2O5 powder as a fuel additive by major automobile manufacturers such as Ford Motor Company; General Motors Company; Volkswagen AG; Toyota Group; Honda Motor Co., Ltd.
Regional Analysis:
Asia Pacific dominated the global ferrovanadium alloy market in 2016 and is expected to continue its dominance over the forecast period. The presence of major steel producers in China, India, Japan and South Korea coupled with growing automotive production is likely to drive demand for vanadium-based products. In addition, increasing infrastructure spending along with rising energy prices are anticipated to propel demand for ferrovanadium over the coming years.
The European market accounted for a significant share of revenue in 2016 owing to high construction activities across countries such as Germany, Italy and Spain. However, stringent environmental regulations regarding carbon emissions may hamper industry growth over the next eight years.
Growth Factors:
- Increasing demand for ferrovanadium alloy from the automotive and aerospace industries due to its high strength-to-weight ratio and corrosion resistance properties.
- Growing demand for ferrovanadium alloy in the construction industry as a substitute for traditional steel alloys due to its superior mechanical properties.
- Rising demand from emerging economies such as China and India due to their growing industrial base and burgeoning middle class population.
- Technological advancements that have led to the development of new applications for ferrovanadium alloy in various end-use industries.
- increasing use of vanadium alloys in energy storage devices such as batteries, capacitors, and flywheels owing to their high energy density
Scope Of The Report
Report Attributes
Report Details
Report Title
Ferrovanadium Alloy Market Research Report
By Type
Vanadium content: 35%-48%, Vanadium content: 48%-60%, Vanadium content: 70-85%
By Application
Construction, Automotive and Transportation, Oil and Gas, Aerospace, Others
By Companies
Pangang, EVRAZ, HBIS Chengsteel, Jinzhou Xinwanbo, AMG, Taiyo Koko, JFE Material, Hickman,Williams & Co, Pangang
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Ferrovanadium Alloy Market Report Segments:
The global Ferrovanadium Alloy market is segmented on the basis of:
Types
Vanadium content: 35%-48%, Vanadium content: 48%-60%, Vanadium content: 70-85%
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Automotive and Transportation, Oil and Gas, Aerospace, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Pangang
- EVRAZ
- HBIS Chengsteel
- Jinzhou Xinwanbo
- AMG
- Taiyo Koko
- JFE Material
- Hickman,Williams & Co
- Pangang
Highlights of The Ferrovanadium Alloy Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vanadium content: 35%-48%
- Vanadium content: 48%-60%
- Vanadium content: 70-85%
- By Application:
- Construction
- Automotive and Transportation
- Oil and Gas
- Aerospace
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ferrovanadium Alloy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Ferrovanadium alloy is a type of alloy that contains ferrovanadium. This alloy is often used in applications where strength and corrosion resistance are important factors, such as aircraft parts and medical devices.
Some of the key players operating in the ferrovanadium alloy market are Pangang, EVRAZ, HBIS Chengsteel, Jinzhou Xinwanbo, AMG, Taiyo Koko, JFE Material, Hickman,Williams & Co, Pangang.
The ferrovanadium alloy market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ferrovanadium Alloy Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Ferrovanadium Alloy Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ferrovanadium Alloy Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Ferrovanadium Alloy Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Ferrovanadium Alloy Market Size & Forecast, 2018-2028
4.5.1 Ferrovanadium Alloy Market Size and Y-o-Y Growth
4.5.2 Ferrovanadium Alloy Market Absolute $ Opportunity
Chapter 5 Global Ferrovanadium Alloy Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Ferrovanadium Alloy Market Size Forecast by Type
5.2.1 Vanadium content: 35%-48%
5.2.2 Vanadium content: 48%-60%
5.2.3 Vanadium content: 70-85%
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Ferrovanadium Alloy Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Ferrovanadium Alloy Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Automotive and Transportation
6.2.3 Oil and Gas
6.2.4 Aerospace
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Ferrovanadium Alloy Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Ferrovanadium Alloy Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Ferrovanadium Alloy Analysis and Forecast
9.1 Introduction
9.2 North America Ferrovanadium Alloy Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Ferrovanadium Alloy Market Size Forecast by Type
9.6.1 Vanadium content: 35%-48%
9.6.2 Vanadium content: 48%-60%
9.6.3 Vanadium content: 70-85%
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Ferrovanadium Alloy Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Automotive and Transportation
9.10.3 Oil and Gas
9.10.4 Aerospace
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Ferrovanadium Alloy Analysis and Forecast
10.1 Introduction
10.2 Europe Ferrovanadium Alloy Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Ferrovanadium Alloy Market Size Forecast by Type
10.6.1 Vanadium content: 35%-48%
10.6.2 Vanadium content: 48%-60%
10.6.3 Vanadium content: 70-85%
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Ferrovanadium Alloy Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Automotive and Transportation
10.10.3 Oil and Gas
10.10.4 Aerospace
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Ferrovanadium Alloy Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Ferrovanadium Alloy Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Ferrovanadium Alloy Market Size Forecast by Type
11.6.1 Vanadium content: 35%-48%
11.6.2 Vanadium content: 48%-60%
11.6.3 Vanadium content: 70-85%
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Ferrovanadium Alloy Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Automotive and Transportation
11.10.3 Oil and Gas
11.10.4 Aerospace
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Ferrovanadium Alloy Analysis and Forecast
12.1 Introduction
12.2 Latin America Ferrovanadium Alloy Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Ferrovanadium Alloy Market Size Forecast by Type
12.6.1 Vanadium content: 35%-48%
12.6.2 Vanadium content: 48%-60%
12.6.3 Vanadium content: 70-85%
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Ferrovanadium Alloy Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Automotive and Transportation
12.10.3 Oil and Gas
12.10.4 Aerospace
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Ferrovanadium Alloy Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Ferrovanadium Alloy Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Ferrovanadium Alloy Market Size Forecast by Type
13.6.1 Vanadium content: 35%-48%
13.6.2 Vanadium content: 48%-60%
13.6.3 Vanadium content: 70-85%
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Ferrovanadium Alloy Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Automotive and Transportation
13.10.3 Oil and Gas
13.10.4 Aerospace
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Ferrovanadium Alloy Market: Competitive Dashboard
14.2 Global Ferrovanadium Alloy Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Pangang
14.3.2 EVRAZ
14.3.3 HBIS Chengsteel
14.3.4 Jinzhou Xinwanbo
14.3.5 AMG
14.3.6 Taiyo Koko
14.3.7 JFE Material
14.3.8 Hickman,Williams & Co
14.3.9 Pangang
